BETMAKERS TECHNOLOGY GROUP LTD — Capital/Financing Update 2020

Dec 28, 2020

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Not for release to US wire services or distribution in the United States

29 December 2020

BETMAKERS CLEARS ALL SPORTECH CONDITIONS FOR ACQUISITION OF RACING AND DIGITAL ASSETS

Highlights

• Sportech has received shareholder approval for the divestment of its Racing and Digital assets to BetMakers for total consideration of £30.9 million

• Settlement of Betmakers’ A$50 million Placement to fund the Acquisition (in conjunction with existing cash) will occur on 31 December 2020, with allotment and normal trading of new shares issued under the Placement to occur on 4 January 2021

• The Acquisition of Sportech’s Racing and Digital assets enables Betmakers to accelerate its international growth plans and strategically positions the Company to capitalise on emerging opportunities in the U.S. market

The Board of BetMakers Technology Group Limited (ASX:BET) (“ BetMakers ” or “the Company ”) is pleased to announce that the acquisition of the Racing and Digital assets of leading international online sports betting company, Sportech PLC (“ Sportech ”), for £30.9 million (“ Acquisition ”) has been approved by Sportech shareholders. This was the only condition precedent to completion of the Acquisition that was for Sportech’s benefit.

Betmakers will now make a non-refundable initial payment of £6.2 million, with the balance of £24.7 million payable upon completion of the Acquisition, which will occur following satisfaction of certain customary conditions that only BetMakers can waive (at its discretion), including transfer of licences. Further details regarding the terms of the Acquisition are set out the investor presentation lodged with the ASX on Tuesday, 1 December 2020.

Betmakers’ A$50 million placement (“ Placement ”) to fund the Acquisition (in conjunction with existing cash) comprising the issue of approximately 83.3 million new fully paid shares (“ New Shares ”) at an offer price of A$0.60 (“ Placement Price ”) will settle on 31 December 2020, with allotment and normal trading of New Shares to occur on 4 January 2021. Details of the previously announced A$10 million share purchase plan will be released in the upcoming days.

Details of the Acquisition

The Acquisition of Sportech’s Racing and Digital assets in the United States, United Kingdom and Europe is intended to accelerate BetMakers’ international growth plans with a significantly expanded global customer base and strategic position to fully

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capitalise on emerging opportunities in the U.S. market, including Fixed Odds wagering.

BetMakers considers the Acquisition to be transformational for the Company’s financial and growth prospects. The Acquisition includes the following key Sportech assets:

• Americas Tote Business: providing betting solutions, hardware and operational services to over 200 racetrack, casino and betting venues to more than 50 customers across the United States, Canada and Latin America.

• Americas Digital Business : providing white-label digital betting solutions to more than 25 customers in North America.

• UK and European Tote Business: providing betting technology, parimutuel and co-mingling services to more than 35 customers across the UK, Ireland, Europe and Asia.

• Quantum[TM] Tote Technology – a world-leading tote betting engine currently used internationally and including for events such as the Breeders Cup and Royal Ascot race meetings.

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About Sportech PLC Racing and Digital Business

• A global leader in enterprise Tote betting solutions, Sportech’s Racing and Digital products play a pivotal role in the international distribution of racing pools for its clients in the U.S., Europe, Latin America and Asia.

• Servicing 15,000 race meetings a year across 434 customer sites in 38 countries.

• Sportech’s Quantum™ System is the most widely deployed pari-mutuel betting software in the world. An extensive range of pools, bet types, and commingling protocols help Sportech expand its pools betting services to new markets.

• Sportech's global service delivery network is anchored by its Global Quantum Data and Operations Centres, delivering 24/7 services in specialized operational environments designed for pari-mutuel betting. From this network, Sportech services its entire North American client base as well as clients from Europe, Latin America, the Caribbean, and Asia.

• Sportech’s Quantum™ System underpins the Tote’s domestic pools betting, international commingling and Tote Superpools

For further information please contact

Charly Duffy Jane Morgan Company Secretary Investor and Media Relations companysecretary@thebetmakers.com investors@thebetmakers.com + 61 (0) 409 083 780 + 61 (0) 405 555 618

Todd Buckingham, Managing Director of BetMakers, authorised the release of this announcement to ASX.

Not an offer in the United States

This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration of the US Securities Act and applicable US state securities laws.